I use the Charles Schwab card in Europe,very satisfied.

It is I who had problems with my ATM card in Italy, at the airport in Milan, and I had read here of others who did and were told a debit card would work. So I had brought along a debit card and that worked. I didn't try extensively as I was just passing through the airport and not staying in Italy.

The major lesson for me is to have more than one card on different accounts in case one doesn't work for some reason.

Nikki - how exactly does it work with the rebates for Charles Schwab? I hear that the ATM fees will show up on your monthly statement from Charles and then they reimburse your account. However, the previous post from thereyet said that they actually have an allowance for their rebates? So, did you only do 6 ATM withdrawals while in Europe?

There is no limit on the number of ATM withdrawals I can make. I do not know what other plans there might be, but that is mine. And there is no monthly fee of $9.00.

I do not see the ATM fees on my monthly statement. Although now that I think about it, I mostly use the card in Europe, where there are no ATM fees. I do not remember off hand whether the fee shows up and is then reimbursed or whether it is just absorbed.

thereyet - where did you see the Charles Schwab debit card that states that it is limited to 6 ATM withdrawals?

On their website.

It isn't a monthly fee of nine dollars, it is a cap on the rebate.

http://www.schwabbank.com/checkingDetail.do

Nikki - I wonder how you got unlimited ATM withdrawals with no maximum allowance of 9.00? If I go to sign up, I better make sure I ask about this.....

i had issues with using one of my atm cards in paris this spring.
i am so glad i was using 2 different banks.

upon my return i noticed that when using my b of a account at bnp, i did not incur any additional charges.
i assume there is a reciprocal agreement since my other withdrawals all had fees assessed.

OK, I see what thereyet is talking about. I still believe that my account is different than that, perhaps because I have other accounts with them. But in any event, it just means that if you make more than six withdrawals per month at ATMs that charge fees, or if the fees for the withdrawals exceed nine dollars per month, you have used up that benefit for the month.

All this is irrelevant in Europe, where there are no fees imposed by the local ATMs and therefore nothing to be rebated. You can make as many withdrawals as you need.

Abranz, yes, there is an agreement btwn BNP and BofA.

If you go to BofA website, there should be something like "international partners" button with the European banks listed.

I try to spend as much time as I can reading this forum to figure out all the things they wouldn't tell us in the travel books :)

I have the Schwab credit card and LOVE it. It has no foreign transaction fees so I use it constantly when I travel and thus need little cash. It's also 2% cash back so I use it for everything I can at home as well. Putting a tour and airline tickets on it is a wonderful thing and helps pay for some of the extras while I'm gone! :)

Iowa - I actally do not want to apply for a credit card (can ding my credit score.), so I am going to open a Schwab checking. However, I have to check into this ATM monthly maximum thing.

I have solved the mystery of the Charles Schwab Checking Account. You have to open this type of checking account -

http://www.schwab.com/public/schwab/...&lvl2=checking

There are no monthly charges to have this account, no minimum requirement, etc. You will never be charged an ATM fee while in Europe (you can do as many withdrawals as you want) and NO FOREIGN TRANSACTION FEES!

Nikki - is this the account you have? High Yield Checking?

That does look right.

However, please note that even with the other types of checking accounts, you can still do as many ATM withdrawals in Europe as you want without paying any ATM fees because there are no ATM fees for regular ATMs in Europe. This is true no matter what kind of US debit or ATM card you use. The feature of rebating ATM fees is useful in the US, but is not relevant in Europe.

You still have to be aware of private ATMs in Europe that are not affiliated with a bank, such as the kind you might find in convenience stores even in the US. They might have their own fees. It is best practice to use ATMs affiliated with banks both in the US and in Europe.

NO FOREIGN TRANSACTION FEES ..what exchange rate do they use?

I always cringe when I see 'no fees' when it comes to Forex.

It is not like Forex, which as I understand it is a service for exchanging currency. The Schwab card uses the same rate as other debit and credit cards, but it does not add the currency conversion fee that most of the others add.

Nikki - There can be ATM fees in Europe IF your bank charges you. For example, Bank of America charges $5.00 per ATM withdrawal even if it is a "bank" ATM. That is another reason why I am opening a Schwab account!

Michel - unbelieveable, right? I also was skeptical when they told me no foreign transaction fees. However, it is TRUE!

A bank that cares. I am ashamed of my cynicism :)

I wonder if there is a "catch" to this though? Could Schwab have a horrible exchange rate therefore that is why there are no foreign transaction fees?

>>>There can be ATM fees in Europe<<<

No, Jill. If BofA charges you, the fees are from BofA, not the ATM, and they are tacked on in the US by BofA, not in Europe by the ATM. If the actual ATM had fees then Schwab and credit unions wouldn't be able to offer without fees.